AHL Partners LLP raised its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 107.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,856 shares of the technology company’s stock after acquiring an additional 17,015 shares during the period. AHL Partners LLP owned approximately 0.07% of Blackbaud worth $2,817,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Blackbaud by 145,653.8% during the first quarter. BlackRock Inc. now owns 5,741,241 shares of the technology company’s stock worth $440,182,000 after acquiring an additional 5,737,302 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Blackbaud by 5.1% during the first quarter. Vanguard Group Inc. now owns 4,239,186 shares of the technology company’s stock worth $325,020,000 after acquiring an additional 205,672 shares during the period. Champlain Investment Partners LLC boosted its holdings in shares of Blackbaud by 9.6% during the first quarter. Champlain Investment Partners LLC now owns 2,258,955 shares of the technology company’s stock worth $173,194,000 after acquiring an additional 197,065 shares during the period. State Street Corp boosted its holdings in shares of Blackbaud by 7.5% during the first quarter. State Street Corp now owns 1,158,864 shares of the technology company’s stock worth $88,849,000 after acquiring an additional 80,891 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Blackbaud by 6.0% during the second quarter. JPMorgan Chase & Co. now owns 918,865 shares of the technology company’s stock worth $78,792,000 after acquiring an additional 51,747 shares during the period.
A number of equities research analysts have recently issued reports on BLKB shares. Benchmark Co. reduced their price objective on Blackbaud from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, June 27th. Stifel Nicolaus restated a “buy” rating and set a $96.00 price objective on shares of Blackbaud in a report on Friday, July 21st. Zacks Investment Research upgraded Blackbaud from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. B. Riley restated a “neutral” rating and set a $78.00 price objective on shares of Blackbaud in a report on Wednesday, August 2nd. Finally, Citigroup Inc. started coverage on Blackbaud in a report on Friday, September 22nd. They set a “buy” rating and a $100.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. Blackbaud has a consensus rating of “Hold” and an average price target of $85.25.
In related news, SVP Jon W. Olson sold 5,282 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $84.24, for a total value of $444,955.68. Following the completion of the transaction, the senior vice president now directly owns 50,756 shares of the company’s stock, valued at approximately $4,275,685.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kevin W. Mooney sold 5,027 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $83.52, for a total transaction of $419,855.04. Following the completion of the transaction, the executive vice president now directly owns 78,611 shares of the company’s stock, valued at $6,565,590.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,752 shares of company stock valued at $1,771,517. 2.19% of the stock is owned by insiders.
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Shares of Blackbaud, Inc. (NASDAQ BLKB) opened at 89.53 on Wednesday. The firm has a market capitalization of $4.18 billion, a P/E ratio of 86.17 and a beta of 0.84. Blackbaud, Inc. has a 52-week low of $55.88 and a 52-week high of $93.81. The stock has a 50 day moving average of $85.24 and a 200-day moving average of $84.12.
Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Monday, July 31st. The technology company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.12). The business had revenue of $192.50 million during the quarter, compared to the consensus estimate of $193.66 million. Blackbaud had a return on equity of 30.88% and a net margin of 6.46%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the business posted $0.46 earnings per share. Equities analysts expect that Blackbaud, Inc. will post $2.13 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Monday, August 28th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.54%. The ex-dividend date was Thursday, August 24th. Blackbaud’s dividend payout ratio (DPR) is presently 47.06%.
Blackbaud, Inc is a cloud software company. The Company offers a range of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. Its segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU).
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